IDEAS home Printed from https://ideas.repec.org/a/taf/rripxx/v24y2017i4p657-680.html
   My bibliography  Save this article

The IPE of money revisited

Author

Listed:
  • Benjamin Cohen

Abstract

Some two decades after an earlier review essay of mine, the time seems ripe to revisit the international political economy (IPE) of money. How has the study of money evolved in more recent years, and what is the understanding of international monetary politics today? The main message of this essay is – to be blunt – disappointment. Research has become increasingly insular and introspective, largely detached from what goes on in the real world. Two parallel developments are responsible, both reflective of wider trends in mainstream IPE. First is a steep decline of interest in broader systemic issues, as the pendulum has swung sharply toward the domestic level of analysis. And second is a marked loss of interest in practical policy solutions. In lieu of worries about problems to be solved, scholarship today tends to be driven more by curiosity about puzzles to be explained. The roots of these twin developments trace back, above all, to the framing effect of epistemology – the demanding methodological standards that mainstream IPE has set for itself. The fault lies, first and foremost, with the excessive priority given to formal scientific method.

Suggested Citation

  • Benjamin Cohen, 2017. "The IPE of money revisited," Review of International Political Economy, Taylor & Francis Journals, vol. 24(4), pages 657-680, July.
    • Handle: RePEc:taf:rripxx:v:24:y:2017:i:4:p:657-680
    DOI: 10.1080/09692290.2016.1259119
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09692290.2016.1259119
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09692290.2016.1259119?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Benjamin J. Cohen, 2008. "Introduction to International Political Economy: An Intellectual History," Introductory Chapters, in: International Political Economy: An Intellectual History, Princeton University Press.
    2. Jeffrey M. Chwieroth, 2010. "Capital Ideas: The IMF and the Rise of Financial Liberalization," Economics Books, Princeton University Press, edition 1, number 9087.
    3. Paquin, Stephane, 2016. "Theories of International Political Economy: An Introduction," OUP Catalogue, Oxford University Press, number 9780199018963, Decembrie.
    4. C. Randall Henning, 1994. "Currencies and Politics in the United States, Germany, and Japan," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 15.
    5. Drezner, Daniel W., 2014. "The System Worked: How the World Stopped Another Great Depression," OUP Catalogue, Oxford University Press, number 9780195373844, Decembrie.
    6. Benjamin J. Cohen, 2014. "Advanced Introduction to International Political Economy," Books, Edward Elgar Publishing, number 15060, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Phillip Anthony O’Hara, 2021. "Objectives of the Review of Evolutionary Political Economy’s ‘Manifesto’ and editorial proposals on world problems, complex systems, historico-institutional and corruption issues," Review of Evolutionary Political Economy, Springer, vol. 2(2), pages 359-387, July.
    2. Kuokštis, Vytautas & Asali, Muhammad & Spurga, Simonas Algirdas, 2022. "Labor market flexibility and exchange rate regimes," European Journal of Political Economy, Elsevier, vol. 75(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Simon Glaze, 2015. "Schools Out: Adam Smith and Pre-disciplinary International Political Economy," New Political Economy, Taylor & Francis Journals, vol. 20(5), pages 679-701, October.
    2. Jeffrey M. Chwieroth & Timothy J. Sinclair, 2013. "How you stand depends on how we see: International capital mobility as social fact," Review of International Political Economy, Taylor & Francis Journals, vol. 20(3), pages 457-485, June.
    3. André Moreira Cunha & Julimar Da Silva Bichara & Marcos Tadeu Caputi Lélis & Julien Marcel Demeulemeester, 2016. "Brazil´S Development Pattern In A Sino-Centred World: An International Political Economy Perspective," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 079, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. William N. Kring & William W. Grimes, 2019. "Leaving the Nest: The Rise of Regional Financial Arrangements and the Future of Global Governance," Development and Change, International Institute of Social Studies, vol. 50(1), pages 72-95, January.
    5. Mark Blyth & Matthias Matthijs, 2017. "Black Swans, Lame Ducks, and the mystery of IPE's missing macroeconomy," Review of International Political Economy, Taylor & Francis Journals, vol. 24(2), pages 203-231, March.
    6. Leonard Seabrooke & Kevin L. Young, 2017. "The networks and niches of international political economy," Review of International Political Economy, Taylor & Francis Journals, vol. 24(2), pages 288-331, March.
    7. Barry Eichengreen and Fabio Ghironi., 1997. "European Monetary Unification and International Monetary Cooperation," Center for International and Development Economics Research (CIDER) Working Papers C97-091, University of California at Berkeley.
    8. Jörg Bibow, 2018. "How Germany’s anti-Keynesianism has brought Europe to its knees," International Review of Applied Economics, Taylor & Francis Journals, vol. 32(5), pages 569-588, September.
    9. Barry Eichengreen & Chitu Livia & Arnaud Mehl, 2014. "Stability or upheaval? The currency composition of international reserves in the long run," Globalization Institute Working Papers 201, Federal Reserve Bank of Dallas.
    10. Gunther Schnabl & Christian Danne, 2005. "The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy," International Finance 0503001, University Library of Munich, Germany.
    11. Höpner, Martin, 2019. "The German undervaluation regime under Bretton Woods: How Germany became the nightmare of the world economy," MPIfG Discussion Paper 19/1, Max Planck Institute for the Study of Societies.
    12. Chris Kirrane, 2018. "Maastricht and Monetary Cooperation," Papers 1807.00419, arXiv.org.
    13. Benjamin Braun, 2016. "From performativity to political economy: index investing, ETFs and asset manager capitalism," New Political Economy, Taylor & Francis Journals, vol. 21(3), pages 257-273, May.
    14. Manuela Moschella, 2015. "Currency wars in the advanced world: Resisting appreciation at a time of change in central banking monetary consensus," Review of International Political Economy, Taylor & Francis Journals, vol. 22(1), pages 134-161, February.
    15. DANNE, Christian & SCHNABL, Gunther, 2008. "A role model for China? Exchange rate flexibility and monetary policy in Japan," China Economic Review, Elsevier, vol. 19(2), pages 183-196, June.
    16. Ahmet Ates, 2021. "Catastrophic Beasts and How to Study Them Researching Illicit Financial Activities in International Political Economy," Bingol University Journal of Economics and Administrative Sciences, Bingol University, Faculty of Economics and Administrative Sciences, vol. 5(2), pages 215-240, December.
    17. Gregory Chin & Margaret M. Pearson & Wang Yong, 2013. "Introduction - IPE with China's characteristics," Review of International Political Economy, Taylor & Francis Journals, vol. 20(6), pages 1145-1164, December.
    18. Ilene Grabel, 2013. "The Rebranding of Capital Controls in an Era of Productive Incoherence," Working Papers wp318, Political Economy Research Institute, University of Massachusetts at Amherst.
    19. Matthias Aistleitner & Stephan Puehringer, 2023. "Biased Trade Narratives and Its Influence on Development Studies: A Multi-level Mixed-Method Approach," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 35(6), pages 1322-1346, December.
    20. Hyoung-kyu Chey & Yu Wai Vic Li, 2016. "Bringing the Central Bank into the Study of Currency Internationalization: Monetary Policy, Independence, and Internationalization," GRIPS Discussion Papers 15-23, National Graduate Institute for Policy Studies.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rripxx:v:24:y:2017:i:4:p:657-680. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rrip20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.